Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Sells 24,800 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul Friedman sold 24,800 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $552.18, for a total value of $13,694,064.00. Following the completion of the sale, the director directly owned 187,164 shares of the company’s stock, valued at approximately $103,348,217.52. This trade represents a 11.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Madrigal Pharmaceuticals Stock Up 0.0%

Madrigal Pharmaceuticals stock traded up $0.11 during mid-day trading on Friday, hitting $571.44. The company’s stock had a trading volume of 175,409 shares, compared to its average volume of 368,696. The firm’s 50 day moving average is $497.21 and its 200 day moving average is $400.91. The company has a market cap of $12.98 billion, a PE ratio of -43.92 and a beta of -1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $605.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on MDGL. Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. Cantor Fitzgerald raised shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. Oppenheimer increased their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Finally, Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $562.67.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its holdings in Madrigal Pharmaceuticals by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock valued at $1,168,000 after purchasing an additional 338 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Madrigal Pharmaceuticals by 7.9% in the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock worth $8,733,000 after buying an additional 1,924 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Madrigal Pharmaceuticals by 4.8% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 36,920 shares of the biopharmaceutical company’s stock worth $11,173,000 after buying an additional 1,682 shares during the period. Emerald Advisers LLC grew its stake in Madrigal Pharmaceuticals by 10.9% in the 2nd quarter. Emerald Advisers LLC now owns 53,108 shares of the biopharmaceutical company’s stock valued at $16,073,000 after buying an additional 5,199 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Madrigal Pharmaceuticals by 1,868.5% in the 2nd quarter. Marshall Wace LLP now owns 55,119 shares of the biopharmaceutical company’s stock worth $16,681,000 after acquiring an additional 52,319 shares during the period. Institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.